More steam left in Bajaj Finance stock's rally, 20% uptick likely: Analysts

Lender could clock 40% annual profit growth between FY22-24

The market response to the April-June quarter for the 2022-23 financial year (Q1FY23) results of Bajaj Finance (BAF) has driven both the Bajaj Finance stock and that of its holding company Bajaj Finserv sharply higher by 20 per cent and 26 per cent, respectively, since late July this year. BAF, in which Bajaj Finserv holds a little over 52 per cent stake, has continued with its digital thrust and managed to maintain customer acquisition momentum, while normalising credit costs which are down to pre-Covid-19 levels.

There was strong consolidated AUM (assets under management) growth of 28 per cent year-on-year (YoY)